On Sunday, Chronicle business columnist Kathleen Pender wrote about California’s new mortgage assistance program for unemployed homeowners. The program, according to Pender, will provide unemployed homeowners who qualify with up to $18,000 over six months. Pender also published an update Monday, answering questions about the program from her readers.

If you think you may qualify, the California Housing Finance Agency is now taking applications and has launched a web site called Keep Your Home California. Check it out to see eligibility requirements and frequently asked questions.

According to Pender, “four of the nation’s largest mortgage servicers – Chase, GMAC, Bank of America and Wells Fargo – are now participating. CitiMortgage still has not signed up but intends to, a spokesman (said) last week.” So if your mortgage is held by one of those companies, you may be eligible.

  • Karen Dohrmann

    This is a great program, but it does us no good if our servicer doesn’t participate. There should have been a way a borrower could be set up without having their servicer having to sign an agreement. My servicer didn’t know about this program and unfortunately, the person answering the phones isn’t the right person to notify and I couldn’t get past the person to get to the right person. I feel there will be serveral borrowers falling thru the cracks and won’t be able to take advantage of the program. I feel so helpless because my servicer isn’t interested at all!!!!

    Another door closed:(

Author

Jon Brooks

Jon Brooks is the host and editor of KQED’s health and technology blog, Future of You. He is the former editor of KQED’s daily news blog, News Fix. A veteran blogger, he previously worked for Yahoo! in various news writing and editing roles. He was also the editor of EconomyBeat.org, which documented user-generated content about the financial crisis and recession. Jon is also a playwright whose work has been produced in San Francisco, New York, Italy, and around the U.S. He has written about film for his own blog and studied film at Boston University. He has an MFA in Creative Writing from Brooklyn College.

Sponsored by

Become a KQED sponsor